Motor vehicles, such as passenger cars, have holders disposed in a console panel for holding beverage containers. The holders are generally disposed in an upright position to receive the container. The location and position of holders in the console panel may occupy a lot of space in and around the console panel. Further, the holders may not be easily stowed away when the holders are not in use. Some known holders are designed to stay in an upright position when in use, and in a folded position when not in use. However, design of such known holders is complex, which in turn makes the manufacturing and development of the holders expensive, time consuming and tedious.